LG Display Co Ltd. (ADR)(NYSE:LPL) has made an announcement regarding its plan to team up with HERE Enterprises Inc. (OTCMKTS:HRTE) and the two will be seeking to make an entry into self-driving telematics tech.
LG has been closely following the rise of the autonomous vehicle technologies and has been fascinated by it. HERE, which is a mapping provider, has expressed its willingness to get into a collaboration with LG and the two are optimistic that within a short period of time they will have succeeded in their quest of developing a telematics product that will be able to help self-driving vehicle applications.
The company that stands to gain the most from the collaboration will be LG whose telematics tech will be merged with HERE’s location services and high-resolution maps. Automakers around the globe could benefit from the two in their joint move to make a product that can be used as a communications hub for both the fully autonomous vehicle and semi-autonomous platforms.
LG is not new in the sector of telematics, including entertainment offerings and vehicle safety. It has maintained its top position in the market from back in 2013. At this point in time, it intends to move ahead with advancing ADAS and next-generation autonomous vehicle tech and sees HERE as the most appropriate partner to collaborate with.
An LG company spokesperson stated, “LG’s offering will incorporate communications tech including GPS, Bluetooth, Wi-Fi and mobile networks including the forthcoming 5G standard to help communicate data transmitted by other autonomous vehicles on the road and information systems to in-car navigation and technology centers.”
He proceeded to outline that the existing telematics information, the stacking fused sensor data as well as the crowd-sourced info would be important components of the autonomous vehicle systems.